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June 5, 2006

Asbestos Bill Adds Claims for 9/11, Katrina

Language has been added to the Senate version of the bill designed to create a compensation fund for asbestos injury victims that would allow claims to be filed by those exposed to asbestos when the World Trade Center collapsed in New York and by people exposed to building debris resulting from the Gulf Coast hurricanes.  The $140 billion dollar fund would mainly pay claims resulting from occupational exposure, would be funded for the most part by companies that made or sold asbestos and their insurers, and would eliminate the right to sue those companies for asbestos-related injuries.

Years of effort have yet to result in a decision on whether to create an asbestos injury compensation fund.  Some see this latest development as an effort to increase political support for the fund but others are concerned that the prospect of additional claimants raises a very real possibility of bankrupting the fund before all claims are compensated.  See the story by Susan Cornwall for Reuters.

JDP

June 5, 2006 | Permalink

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